Cross River invites global investors with people-first economic development blueprint

In a bold move to accelerate economic growth and development, Dr. Bong Duke, the vice chairman/CEO of the state’s planning commission, under the the leadership of Governor Bassey Otu has extended a welcoming hand to investors from around the world, inviting them to participate in the transformative journey of Cross River State.

Showcasing its comprehensive People-First Economic Development Blueprint, which promises a prosperous future for both investors and residents.

At a recent investor summit, Dr. Bong Duke presented the state’s People-First Economic Development Blueprint, highlighting key sectors poised for growth and investment:

Agriculture: The blueprint targets increased production of staple crops such as maize, rice, oil palm, cocoa, cassava, and sesame seeds. The expected outcomes include significant foreign exchange earnings, the creation of employment opportunities for youth and women, and improved livelihoods for participating farmers. Additionally, increased livestock production and aquaculture are projected to provide affordable protein sources, enhancing food security and income for local communities.

Tourism: Tourism is a cornerstone of Cross River’s economic strategy. The state aims to enhance participation in its renowned Christmas festivities and attract tourists year-round. The expansion of heritage tourism and strategic partnerships with private sector operators are expected to boost revenue, reduce capital flight, and improve grassroots participation in governance. These efforts will also increase awareness of government policies and programs among citizens.

Education and Sports: Cross River State is recognized for having Nigeria’s best grassroots sports development program. This initiative empowers youth, fosters gender inclusiveness, and stimulates interest in sports. The program not only improves performance in national and international competitions but also boosts social capital for women cooperatives, enabling them to access funding for economic activities and reducing poverty.

Healthcare and Social Development: The state is making significant strides in healthcare, with plans to reduce the number of referrals to Calabar by enhancing facilities in local government areas. Increased training for nurses and better access to quality medical services aim to improve overall health outcomes. These efforts include reducing HIV/AIDS transmission, enhancing the quality of life, and providing better healthcare services across the state.

Industry and Housing: Simplifying land documentation processes and collaborating with the private sector are set to boost industrial growth and housing availability. The acquisition of the Odukpani Power Plant promises stable power supply, crucial for industrial activities and improving living standards. The state also focuses on reducing agricultural waste, ensuring food security, and increasing farmers’ income.

The state has made notable progress in infrastructure development. Recent achievements include the rehabilitation of streetlight infrastructure and the installation of traffic lights in major junctions across Calabar. Ongoing electrification projects in various local government areas aim to ensure stable power supply, which will drive economic activities and improve household incomes. These projects are expected to reduce rural-urban migration, boost small-scale enterprises, and enhance the quality of life for residents.

Cross River is committed to increasing its internally generated revenue (IGR) and enhancing transparency and accountability. Measures to eliminate revenue leakages and adopt technology for service delivery are pivotal to this strategy. These efforts are expected to significantly improve the state’s Human Development Index (HDI) and Social Welfare Index (SWI). The state’s focus on policy-based planning and plan-based budgeting aims to align budget proposals with the policy thrust of the government and the people.

Governor Otu’s administration emphasizes performance management to reduce abandoned projects and boost investor confidence. Enhanced service delivery, compliance with public procurement guidelines, and timely audit reports are key components designed to attract more donors and investors. The focus on reducing the number of abandoned projects and increasing donor support underscores the state’s commitment to efficient and transparent governance.

Governor Otu and Dr. Duke are urging investors to seize the opportunities presented by Cross River’s dynamic growth and strategic initiatives. The state’s blend of historical significance, strategic location, and robust development plans offers a promising environment for business and investment. Cross River’s commitment to good governance, economic development, and social welfare positions it as a land of promise and potential.

As Cross River State continues its transformative journey, it stands ready to welcome investors seeking a thriving and supportive business environment. With significant returns both financially and socially, Cross River State is poised to become Nigeria’s premier investment destination, driven by the visionary leadership of Governor Otu and the strategic initiatives of the Cross River State Planning Commission.